After the better-than-expected result of the US jobs report, known as payroll, the country’s president, Joe Biden, said that the progress in the labor market is the result of a new economic approach.
“Today’s report underscores that the United States is well positioned to address the challenge that inflation has posed around the world,” Biden said in a statement released by the White House.
According to Biden, Friday’s data shows that more people are joining the workforce and finding jobs as the US recovers from the pandemic.
“People returned to work in February across a wide range of industries – with jobs won in leisure and hospitality, construction, retail and manufacturing. We are producing more and moving goods faster in the United States.”
The US economy added 678,000 net jobs in February, according to data published by the US Department of Labor. The result was well above the expectations of analysts consulted by the The Wall Street Journalgenerating 440 thousand jobs.
The US unemployment rate fell to 3.8% in February from 4% the previous month. The market consensus was for a smaller rate decline to 3.9%.
Source: CNN Brasil
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